Nvidia shares may be due for a pullback after another red hot start to the year. Shares have rallied 77% year to date as investors amp up bets on the chipmaker's dominant artificial intelligence position. This week alone, the semiconductor behemoth has surged 6% even as technology stocks and the major averages head for weekly declines. But Nvidia may be getting ahead of itself after nine-straight weeks of gains, according to this commonly watched metric.
mountain Nvidia shares this week Other companies that made the overbought list include Jabil , Leidos Holdings and American Express . There are also three stocks in oversold territory, including Apple . A stock is considered oversold when its RSI is below 30 and could signal a buying opportunity. The iPhone maker, with an RSI of about 26, added roughly 2% on Friday, reversing some of its week-to-date gains after getting hit with a $2 billion fine and suffering a decline in sales in China.
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